luxury bike wear company kit and ace parts ways with lululemon founders

by:Betrue     2019-08-24
Kit and Ace, the luxury bike apparel company, are moving in a new direction, while their famous partnersfounders. The Vancouver-
Shannon and J. J. Wilson —
Wife and son of luolimon Sports
Cape Wilson, founder
No longer participate in the company they created in 2014.
The two have been replaced by members of Kit and Ace\'s management team, which acquired the company for undisclosed amounts and will now be led by chief executive George Tsogas.
Tsogas told Canadian media that the brand change has been going on for months and Wilson\'s departure is amiable.
\"They are moving on.
\"They are doing charity right now, just enjoying their time,\" Tsogas said . \". Vancouver-
US-based retailers Kit and Ace have closed all international stores, fired employees, and noted that he is still in close contact with Chip Wilson, who he calls a \"mentor.
\"Since Tsogas joined lululullemon in 2002, the two have known each other for 17 years, when the brand had only four stores.
\"Let him be by my side, develop me, guide me and give me the opportunity to get the kit and Ace to the point of being profitable and buying,\" he said.
\"They already know [my vision]
I wanted to buy the company from the beginning.
This is my goal.
\"Since Tsogas took over the company in April 2017, Kit and Ace have fired 10% of their headquarters staff, he has been trying to shift it from the root of luxury to a brand that focuses more on providing high-end services to modern commuterstech gear.
Tsogas says the shift is driven by the needs and feelings of consumers, which are too expensive for product kits and Ace sales.
Since then, he has greatly reduced the price of some products.
Kit and Ace have several stores in Ontario, BC and Alberta running an electronic storecommerce site.
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